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More Retailers Tapping AI for Marketing and Sales: Survey

Customer service and supply chain management also on the list for AI investment

Published

3 months ago

January 21, 2024

VMSD Staff

More Retailers Tapping AI for Marketing and Sales: Survey — PHOTO: ISTOCKPHOTO

PHOTO: ISTOCKPHOTO

Retail and consumer packaged goods executives are planning to invest in artificial intelligence tools across multiple business operations, according to a recent survey sponsored by Carl Marks Advisors. The executives surveyed are from retailers and CPG firms reporting between $25 million and $300 million in revenue.

Of the executives surveyed:

More than half will invest in AI for marketing (56 percent) and financial forecasting (52 percent)
More than a third (34 percent) plan to invest in AI for customer service and user experience and for supply chain management.

In addition, 40 percent of the executives participating in the survey reported that they expect their sales to grow this year.

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